1811 Moreland BlvdChampaign, IL 61822
Courtyard Champaign
Asset ClassHotel & Hospitality
HREC Investment Advisors (“HREC IA”) is pleased to offer, to qualified investors, the opportunity to acquire the fee-simple interest in the 78-room, Courtyard Champaign (“Hotel” or “Property”), situated at 1811 Moreland Blvd, Champaign, IL 61822.
Overview
- Unique, Long-Term, Marriott Franchise Agreement - The Hotel benefits from a 14-year franchise license, which is very uncommon for Marriott products of this age.
- Upside from Replacing Existing Management - An investor can seek to revamp the operations of the Hotel, implement strategic cost control initiatives, and employ more aggressive yield management strategies.
- Value-Add Offering - The Hotel will require a full PIP upon sale, improving the standing of this property in relation to the competitive set.
- Terrific Location to Major Demand Generators - The Courtyard Champaign is less than four miles from the University of Illinois Urbana-Champaign’s campus, Carle Foundation Hospital, OSF Heart of Mary Medical Center, and corporations including Kraft Heinz and FedEx.
- Proximate to Portfolio Asset - The Courtyard Champaign is within 100 feet of another Offering within this Portfolio – the Fairfield Inn & Suites Champaign. The purchase of both Properties allows for shared expenses and economies of scale for further cost control.
- New Roofing - The current owner is replacing the roof in full – to be completed in September of 2023.
- Offered Well Below Replacement Cost
- No New Supply
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1811 Moreland BlvdChampaign, IL 61822
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Listing provided by Revere CRE